TRENDING:

GBP/USD

XAU/USD

Bitcoin Price Analysis: BTC/USD bulls must capitalize above $7000 or risk another steep drop

Bitcoin price is trading in negative territory, down 3.05% in the second half of the session.
BTC/USD moving within consolidation flirting with the big $7000 price mark.
The next price development is critical for the Bitcoin trend moving forwards.

Ken Chigbo Independent Analyst

BTC/USD daily chart

The bulls are making an attempt to break above the psychological $7000 price mark, however, supply remains heavy around this area. A retest of a breached daily flag was seen in the prior session.

BTC/USD 60-minute chart

The bulls are struggling to break down a zone of resistance, which is seen running from $7000-$7200.

Spot rate: 7035.40

Relative change: -1.10%

High: 7152.93

Low: 6998.92

BTC/USD

Overview
Today last price	7051.8
Today Daily Change	-61.57
Today Daily Change %	-0.87
Today daily open	7113.37

Trends
Daily SMA20	6808.56
Daily SMA50	7006.83
Daily SMA100	8111.65
Daily SMA200	8017.51

Levels
Previous Daily High	7216.69
Previous Daily Low	6466.49
Previous Weekly High	7468.81
Previous Weekly Low	6681.12
Previous Monthly High	9215.51
Previous Monthly Low	3886.49
Daily Fibonacci 38.2%	6930.11
Daily Fibonacci 61.8%	6753.06
Daily Pivot Point S1	6647.67
Daily Pivot Point S2	6181.98
Daily Pivot Point S3	5897.48
Daily Pivot Point R1	7397.87
Daily Pivot Point R2	7682.38
Daily Pivot Point R3	8148.07

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Solana Price Forecast: SOL consolidates as spot ETF inflows near $1 billion signal institutional dip-buying

Solana (SOL) price hovers above $131 at the time of writing on Monday, nearing the upper boundary of a falling wedge pattern, awaiting a decisive breakout.

Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP face pressure near key technical barriers

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) hover around key levels on Monday after correcting slightly in the previous week. The top three cryptocurrencies by market capitalization could face increased downside risk as bearish momentum builds across key indicators.

Top Crypto Losers: DASH, SPX, PENGU – Privacy and meme coins lose ground

Altcoins, including Dash (DASH), SPX6900 (SPX), and Pudgy Penguins (PENGU), are leading losses as the broader cryptocurrency market remains cautious ahead of the macroeconomic data releases, such as the US Nonfarm payroll report, CPI data, and the Bank of Japan’s rate-hike decision.

Top 3 Price Prediction: BTC and ETH eyes breakout, XRP steadies at support

Bitcoin (BTC) and Ethereum (ETH) are nearing the key resistance levels at the time of writing on Friday, and a successful breakout could open the door for a fresh rally. Meanwhile, Ripple (XRP) is stabilizing around a crucial support zone, hinting at a potential rebound if buyers maintain control.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

BTC/USD daily chart

BTC/USD 60-minute chart

BTC/USD

Legal Text

Markets move fast. We move first.

Editor's Picks